TORONTO, ONTARIO--(Marketwire - Oct. 31, 2012) - Matrix Funds Management ("Matrix") is pleased to announce the initial closing of the sale of limited partnership units of the Matrix 2012 Enhanced Short Duration National and Québec Flow Through LP (the "Flow Through LP"). Gross proceeds raised were $19.855 million. The Flow Through LP is a flow-through investment fund with a dual-class structure which allows investors to obtain units of a National portfolio or units of a Québec portfolio, each with its own investment objectives and distinct tax deductions. The National Class Unit is suitable for individual investors who are Canadian residents subject to Canadian income tax. The Québec Class Unit is suitable for individual investors who are residents of the Province of Québec subject to Québec income tax. It is anticipated that both portfolios will rollover into the designated mutual fund on or before May 31, 2013.

The Flow Through LP will primarily invest in flow-through shares of resource issuers engaged in mineral or oil and gas exploration and/or development in Canada and Québec, with a view to maximizing the tax benefit of an investment in the Flow Through LP's units, preserving capital and achieving capital appreciation for holders of the National Class Units and holders of Québec Class Units. The offering has been set at a maximum of $25,000,000 for the National Class and $15,000,000 for the Québec Class. No further Québec Class Units will be offered as the maximum has been raised. The second and final closing of the offering for the National Class Units only is expected to occur on November 16, 2012.

Matrix is the manager and portfolio advisor of the Flow Through LP.

The syndicate of agents for the offering is being co-led by National Bank Financial Inc., CIBC World Markets Inc. and Desjardins Securities Inc. with other syndicate members including BMO Nesbitt Burns Inc., TD Securities Inc., Industrial Alliance Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Laurentian Bank Securities Inc., Argosy Securities Inc., Dundee Securities Ltd., Mackie Research Capital Corporation, Macquarie Private Wealth Inc., MGI Securities Inc. and Raymond James Ltd.

Matrix and the Flow Through LP are represented by Blake, Cassels & Graydon LLP and the syndicate of agents is represented by McCarthy Tétrault LLP.

This offering is made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from any IIROC registered financial advisor. Investors should read the prospectus before making an investment decision.

About Matrix Funds Management (a division of Growth Works Capital Ltd.)

Matrix Funds Management (a division of Growth Works Capital Ltd.) is the manager of the Matrix Funds and a subsidiary of Matrix Asset Management Inc. (TSX:MTA). Matrix provides diversified asset and wealth management for both individuals and institutional investors. Please visit for more information.

Contact Information:

Matrix Asset Management Inc.
Wan Kim
Senior Vice President, National Sales
Direct: 1-416-934-7708 or Toll Free: 1-800-268-8244

Matrix Asset Management Inc.
David Balsdon
Direct: 1-416-365-4201 or Toll Free: 1-800-268-8244

Matrix Asset Management Inc.
Isabelle Gervasio
Vice President, Investor Relations & Business Development
Office: 1-514-227-0666 x222 or Toll Free: 1-866-687-9363